1. Field of the Invention
This invention relates to the field of data processing in a business transaction and more particularly to a gift registry system and method.
2. Background Information
Gift registries are known and used in a number of different markets, with the most common area being wedding registries. Typically, these registries are provided by a large store or establishment, with a number of different departments in the store. When the store has multiple locations, it is also known to provide some form of link (electronic or otherwise) between the stores so that a gift recipient (the registrant) can register in one store and gift givers can review items on the registry and make purchases at another store.
When the registry spans a number of different locations, the method and technique for maintaining information on items purchased from the registry and remaining unpurchased is often not well managed. Accordingly, it is possible that different people purchase the same item for a recipient from different locations on the same day and the problem is not discovered until a registry update is performed at the end of the day or week. It is common for the department store to maintain the registry in a book in the store where the recipient registers and periodically update that book when gifts are purchased. Accordingly, recipients and gift givers are better served when registry information is updated automatically and in near-real-time.
Traditional store or establishment based gift registries seldom provide discounted prices. In fact, the ability to charge gift givers retail prices for items that are commonly discounted is often cited as an attractive feature of the gift registry business. (see for example, pg. 37, The Knot Inc., S-1, Sep. 9,1999, “Because items are selected by the engaged couple but paid for by their guests, price sensitivity is minimal and registry products are rarely discounted by retailers.”) Accordingly, recipients and gift givers are better served when registries provide access to discounted prices or special sales.
Traditional store or establishment based gift registries seldom provide out-of-season access to seasonal products. Recipients may add a seasonal item to their registry (e.g., barbecue sets, skis, patio furniture) however, these items may no longer be in stock when gift givers attempt to purchase them. Accordingly, recipients and gift givers are better served when registries provide access to seasonal items without regard to season.
Traditional store or establishment based gift registries have a significant gift return volume, with the associated return expense. In fact, in traditional registries, a major expense is the cost of handling returns. To manage this expense, registries frequently impose restrictive return policies. Registrants return gifts for many reasons. Some have received duplicate gifts either within the registry or outside of the registry. Others may have changed their minds and want a different pattern or model. Still others may simply wish to do their own shopping, perhaps on-line at an auction site, or postpone their purchase, and therefore wish to convert the gift to cash. Sometimes recipients know before a gift is ordered or shipped, that they wish to return it. However, a traditional registry does not provide a means to return a gift before it is ordered or sent, and often have restrictive return policies for gifts that have been sent. Even when stores have relaxed return policies, the recipient must still locate the receipt, and physically transport the gift, or arrange shipping, to the store at considerable cost and inconvenience. Therefore, both gift registries and recipients want to avoid the expense involved in returning a gift. Gift givers want to minimize inconvenience to the recipient and give a gift that can be conveniently returned by the recipient and exchanged for something they really want. Accordingly, all parties are better served when the gift return process can be made more convenient and efficient.
Traditional store or establishment based gift registries require that a gift giver purchase an entire gift, not part of a gift. For example, a gift giver may purchase one fork, or one plate, or one platter. However, the gift giver is unable to purchase part of platter, or contribute to the purchase of a plate. As an example, in a traditional registry, the giver can't contribute $250.00 toward purchase of a $4985.00 computer. The gift giver may also have a certain budget ceiling for a gift and will only purchase gifts that are equal to or less than that ceiling. Because they are not able to purchase part of a gift, they select a gift from the registry that has a cost less than their ceiling. The difference between the cost of the gift and the giver's gift cost ceiling is never spent. Accordingly, recipients and gift givers are better served when a registry allows multiple givers to make partial contributions toward a gift purchase.
Traditional store or establishment based gift registries are unable to handle gifts that are not available within their establishment. A recipient who wants both a computer and silverware must generally register with two different stores. Having to register at multiple registries creates problems for both the recipient and the gift giver. The recipient would prefer to avoid the inconvenience and cost of having to visit, establish and maintain multiple registries. The gift giver is also less inclined to visit multiple establishments in an attempt to purchase a gift on the registry. Accordingly, recipients and gift givers are better served when a single registry accommodates all of the recipient's desired gifts.
Traditional gift registries are also unable to handle gifts for which a value can be calculated, but which are not generally available from stores. For example, “a lifetime subscription to Sports Illustrated”, “movie tickets to episode 3 of Star Wars”, or “ice cream at the Eiffel Tower on a summer afternoon”. However, recipients may wish to receive such gifts in their registry, and gift givers may wish to purchase such gifts for recipients. Accordingly, both recipients and gift givers are better served when such gifts may be registered and purchased from a gift registry.
Traditional store or establishment based gift registries do not allow a simple cash gift. A recipient may prefer a cash gift so they can make a donation to a favorite charity, make a down-payment on a house, defer their purchase of material goods until they have chosen a place to settle, or purchase a particular gift on their own from an on-line auction site or outlet mall. A gift giver may be willing to give a cash gift, but wants the recipient to benefit from the data processing capabilities of the registry, is uncertain as to the exact amount required, or wants to know the purpose of the cash gift. Accordingly, recipients and gift givers are better served when cash is an available option for a gift.
Traditional store or establishment based gift registries do not allow gift substitutions. A recipient may identify a particular gift in the registry, but be interested in other gifts if that gift is not available or is replaced by a more advanced model. Those other gifts could be related to the identified gift (different make/model/price). Alternatively, the other gifts could be very different from the identified gift (cash instead of the good or service). The gift giver may be willing to give alternative, or substitute gifts, but feel uncomfortable identifying a range of different gifts if the prices are not all the same. The gift registry may be interested in providing a good or service even if it is a substitute gift, rather than simply brokering a cash gift. Accordingly, all parties to the gift registry are better served when options for gift substitutions are provided.
Systems and methods to provide distributed access to a gift registry are needed. Systems and methods to provide registry of diverse goods and services, including items that are not traditionally considered for gifts are needed. Systems and methods to provide real-time updates to the gift registry are needed. Systems and methods to reduce the incidence of duplicate gifts are needed. Systems and methods to provide an opportunity for gift givers to make a partial contribution or partial purchase of an item on a gift registry are needed. Systems and methods to allow recipients to register all their gifts in one location instead of multiple gift registries are needed. Systems and methods to allow a recipient to receive cash instead of a good or service are needed. Systems and methods to reduce or eliminate the cost of gift returns are needed. Systems and methods to allow a recipient to automatically convert the gift to cash without the expense of the traditional return process are needed. Systems and methods to allow a recipient to set a gift amount for a gift idea are needed. These and other disadvantages of the existing systems are addressed by the instant invention.